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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the world, imposing the burning of cleaner marine fuels and thus turning the shipping industry into one with a much lower environmental impact. According to the latest weekly report from shipbroker Gibson, bunker prices have fluctuated more than two fold in the last five years. "The average price of 380cst this year to date hovers around $635 pmt. The impact of bunker fuels on operational costs is substantial and has caused considerable damage to ship owner’s profitability. However with even tougher regulations and emission targets on the way, how will these changes affect the shipping industry?" asks Gibson.
The shipbroker notes that "as seaborne trade continues to grow, shipping plays a larger part in adding to the world’s ‘greenhouse gases’. Following political pressure to further reduce emissions from shipping , a new set of sulphur requirements within MARPOL Annex VI will be implemented on the 1st January 2015. Permissible sulphur levels in bunker fuel will be capped at 0.10%, from the current maximum of 1.0% within existing Emission Control Areas (ECA).
Although the European bunker market handled previous reductions in sulphur limits much better than expected, a common view is that the same cannot be envisaged in 2015; the UK Chamber of Shipping has said “shipping needs more time to prepare [before the 2015 cap]”, adding that neither time nor sufficient techhnology is currently available to support the changes. The shift in 2015 will mean most ships will use marine gas oil (MGO) while operating in ECAs, instead of heavy fuel oil. The premium of MGO over 1.0% LSFO 380 currrently stands at around 40% in Rotterdam. Although the price of this fuel is hard to project to 2015, it is expected that supply may not grow as quickly as demand and will therefore command an even higher premium during the initial stages after the 2015 inauguration. The increase in products available for export from the USS (see Gibson’s WTR - 15th Mar 2013) could offer the solution to lacking supplies, butt the natio n itself will need morre MGO too meet their own neww ECA requuirements. As various countries in the world compete for global supplies of sub 0.10% fuels, this could provide a boost for the MR tanker market" Gibson said.
It concluded by stating that "the next major issue is the proposed IMO legislation shifting all bunkers to less than 0.5% sulphur, due to be introduced globally in 2020. Lack of investment in Europe’s refining sector suggests it is highly unlikely there will be sufficient availability of low sulphur fuel oil to meet this requirement. The use of new technnologies - like scrubbers and LNG as the main fuel for propulsion -to meet the strict sulphur regulations may offer ship owners an alternative, but the shipping community needs to push the development of such technologies to capitalise on their potential and make them a commercially viable solution. Whilst there is huge uncertainty surrounding the scale of impact the new fuel regulations will have on the shipping industry, it appears the only certainty is that this issue is not going to go away anytime soon", Gibson said.
Meanwhile, in the crude tanker markets this week, in the Middle East, it was an "active week for VLCCs as charterers closed the book on March liftings, and started to tuck in heartily to the April programme. Owners managed to extract some advantage, but it was to a minimal extent, and any hopes for the market reaching critical mass seem rather faint. Rates topped out at WS 37.55 to the East and WS 19 to the West. Suezmaxes found only spasmodic action, and the lack of consistency, and plentiful availability, kept things pegged to around WS 30 West and WS 55 East for the duration. Next week looks set to stay rangebound too. Aframaxes tightened on early positions, allowing rates to creep to 80,000 by WS 85 to Singapore, but will stay at closer to WS 80 deeper into April" Gibson said.
In the North Sea, "as in the Med, the search for replacement tonnage gave Aframax Owners -and rates - a boost to 80,000 by WS 100+ cross UK Cont, and 100,000 by WS 100 also from the Baltic. By the weeks' end, however, Charterers immediate needs seemed satisfied, and owners moved once again onto the defensive. Suezmaxes got the odd knock, but no surprises...135,000 by WS 45 was seen transatlantic for no heat, and US$ 22.7 million paid to Singapore, also without heating costs. VLCCs weren’t left out either, but still slipped lower with a couple of deals reported at US$ 3.8 million for Fuel Oil to Singapore, despite the patchy availability" the London-based shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
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